Global Bunker Oil Market 2022-2026

Global Bunker Oil Market 2022-2026

Technavio has been monitoring the bunker oil market and it is poised to grow by 79.59 MT during 2022-2026, accelerating at a CAGR of 5.1% during the forecast period. Our report on the bunker oil market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing naval expenditure, rising global oil and gas consumption, and increase in global seaborne trade.

The bunker oil market analysis includes the product segment and geographic landscape.

Technavio's bunker oil market is segmented as below:

By Product

• Residual fuel
• Distillate fuel

By Geographical Landscape

• APAC
• Europe
• North America
• Middle East and Africa
• South America

This study identifies the growing LNG market as one of the prime reasons driving the bunker oil market growth during the next few years. Also, the development of scrubber technology and the development of emulsified fuels will lead to sizable demand in the market.

Technavio presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources by analyzing key parameters. Our report on the bunker oil market covers the following areas:

• Bunker oil market sizing
• Bunker oil market forecast
• Bunker oil market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading bunker oil market vendors that include BP Plc, Chevron Corp., China National Petroleum Corp., Consort Bunkers Pte. Ltd., Equatorial Marine Fuel Management Services Pte. Ltd., Exxon Mobil Corp., Glencore Plc, Global Energy International Ltd., Hindustan Petroleum Corp. Ltd., Hong Lam Marine Pte. Ltd., Marquard and Bahls AG, Mercuria Energy Group Ltd., SENTEK Marine Pte. Ltd., Shell plc, Shenzhen Petroglory Group Co. Ltd., SK B and T Pte. Ltd., TotalEnergies SE, Toyota Tsusho Corp., Vitol Netherlands Cooperatief UA, and World Fuel Services Corp. Also, the bunker oil market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources by analyzing key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.